Capital Hotels profit fell by 54% in Q2

Protea Hotel owerri

Capital hotels plc in its financial report for half year 2017 is reporting NGN182.0 million profit compared to NGN400.0 million reported same period 2016, which represents 54% fall year on year comparison.

The hotel ended the quarter with NGN2.4 billion revenue in contrast to NGN2.3 billion it ended 2016 with while costs of sales rose by 22% to NGN1.8 billion against NGN1.4 billion in the previous year.

Capital hotels recorded a decrease in gross profit to NGN667.0 million in contrast to NGN909.2 million in the.year before while result operating activities dropped to NGN268.1 million against NGN589.5 million in the previous year.

Total asset was NGN9.1 billion compared to NGN7.2 billion in the year 2016 while total liabilities was NGN3.7 billion against NGN2.8 billion in the year before.

Company Information

The Company was incorporated on 16th January, 1981, under the Companies Act, 1968 as a private limited liability company. It was converted to a quoted company in 1986 but was removed from the dealing list by the Stock Exchange in 1990. The Company regained its listing status on Thursday August 14, 2008 and has since remained a quoted public company listed on the floors of the Nigerian Stock Exchange.

Vision Statement “To be the hospitality company of first choice” Mission Statement “To delight our guests through excellent service delivery while creating value for all stakeholders” PRINCIPAL ACTIVITIES Capital Hotels Plc is engaged in hotel business which includes furnishing of hotels and the sale of accommodation; food and beverage in the ordinary course of business. Its premier and only hotel, the Sheraton Abuja Hotel commenced business in January, 1990. The hotel operates and maintains restaurants, apartments for letting, recreational facilities, night club and a business centre.

Capital Hotels is the connectivity hub of our lobby experience, allowing guests to work, relax, socialize or grab a snack. As the connectivity hub of our lobby, guests can surf the Web, watch a game with friends, borrow a magazine or newspaper, or even send a video postcard to friends and family.

Leave a Reply

Your email address will not be published. Required fields are marked *